Market Synopsis

OpenStack refers to a collection of open source software modules which helps in providing a framework for managing and creating cloud infrastructure. In general, OpenStack is the next stage of virtualization which helps in organizing and managing a pool of heterogeneous storage and network resources within an IT organization. Organizations deploy OpenStack to manage cloud-based infrastructure, web hosting, SaaS delivery (Software as a Service) and many more.

Many organizations are adopting OpenStack in their cloud-based services which offers numerous advantages like cost savings, customization, value-added services, and innovation in the product line. OpenStack helps in automation of cloud maintenance and benefits by providing remote vision of other storage devices in the cloud. Nearly 70% of the organizations feel that OpenStack is vital to their cloud strategy to develop their existing KPI (key performance indicator). The increase in the demand for cloud-based solutions and services are driving the OpenStack service market globally. The free availability of OpenStack platform, easy deployment and a wide adoption among SME are driving the market growth of openstack service market. However, the lack of technical assistance and complexity in deployment are restraining the market growth.

Segmentation

The global open stack service market is segmented into the component, organization size, vertical and region. Based on component, the segment is further classified into solution and services. The services are further classified into consulting services, installation & integration services and support & maintenance services. Based on deployment, the segment is further classified into the public cloud, private cloud, and hybrid. Based on organization size, the segment is further classified into SME and large enterprises. The open stack as a service is being deployed in many verticals like BFSI, IT & Telecommunication, manufacturing, retail, government, and others.Global open stack service market is estimated to reach USD 8 billion at CAGR 29% through the forecast period 2023

Regional Analysis

The global Openstack service market is studied in North America, Europe, Asia Pacific and rest of the world. North America holds the major market share through the forecast period. The presence of major players in the region and advancements in cloud technology are driving the market in the region. Europe is expected to show significant growth rate during the forecast period. The usage of private cloud among enterprises, adoption of BYOD (Bring Your Device) policy among organizations are driving the market growth in this region. The rising demand for big data analytics is fuelling the market growth. Asia Pacific region is estimated to show decent growth during the forecast period. The increase in usage of cloud services especially in Japan is on the rise. According to the survey in 2016, results indicate that use of cloud services rose up to 153%.